
Los Angeles, California 90011
This Multi-Unit Residential Income Property represents a High-Potential Investment Opportunity, listed at $899,000—positioned above the $849,219 Fair Market Value. While priced at a premium, the R3 Zoning and 1,836 sqft of living space across two structures provide significant long-term development potential. Featuring a Good Condition Rating with recent electrical, plumbing, and cosmetic upgrades, the property is ready for immediate occupancy. This versatile asset is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage rental income to offset mortgage costs.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 655 E 50th Street Subject 4 bd · 4 ba · 1,836 sqft · $427 | $799,000* List Price | 4 | 4 | 1,836 | $427 | - |
A 661 E 43rd Place Sold 0 bd · 0 ba · 1,985 sqft · $327 · 0.5 mi | $650,000 | 0 | 0 | 1,985 | $327 | 0.5 mi |
B 288 E 43rd Sold 0 bd · 0 ba · 1,740 sqft · $395 · 0.5 mi | $686,734 | 0 | 0 | 1,740 | $395 | 0.5 mi |
C 4457 Mettler Street Sold 0 bd · 0 ba · 1,437 sqft · $563 · 0.3 mi | $809,000 | 0 | 0 | 1,437 | $563 | 0.3 mi |
D 725 E 40th Place Sold 0 bd · 0 ba · 2,135 sqft · $375 · 0.9 mi | $800,000 | 0 | 0 | 2,135 | $375 | 0.9 mi |
E 5307 1/2 Compton Avenue Sold 0 bd · 0 ba · 2,040 sqft · $377 · 0.9 mi | $770,000 | 0 | 0 | 2,040 | $377 | 0.9 mi |
F 1407 E 50th Street Sold 0 bd · 0 ba · 2,141 sqft · $343 · 0.8 mi | $734,000 | 0 | 0 | 2,141 | $343 | 0.8 mi |
G 401 E 46th Street Sold 0 bd · 0 ba · 1,460 sqft · $510 · 0.4 mi | $745,000 | 0 | 0 | 1,460 | $510 | 0.4 mi |
H 737 E 47th Street Pending 0 bd · 0 ba · 1,724 sqft · $434 · 0.2 mi | $749,000 List Price | 0 | 0 | 1,724 | $434 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property has undergone significant recent renovations (likely <5 years) including new kitchen cabinetry, flooring, interior paint, and nine new windows. While the original structures date to 1905 and 1947, the move-in ready condition and updates to the kitchen and bathroom vanities, along with partial electrical and plumbing upgrades, elevate it from 'Fair' to 'Good'.
With a front house, a separate rear residence, and an additional studio, this property offers exceptional versatility for multi-generational living or generating multiple rental income streams.
The generous 8,261-square-foot lot is zoned R3, providing significant long-term value and the potential for increased density or further residential development in a high-demand Los Angeles area.
The property features essential upgrades including partial electrical and plumbing work, new flooring, nine new windows, and fresh interior paint, reducing immediate move-in costs and maintenance concerns.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
The downstairs studio is not permitted, which may present challenges for traditional financing, appraisal valuations, and legal rental compliance.
The majority of the surrounding public schools are low-rated, with several elementary and high schools scoring a 2 or 3 out of 10, which may limit appeal for families prioritizing education.
Historic Craftsman with Multiple Living Spaces & R3 ZoningEnter into a piece of history with this charming Craftsman, originally built in 1905 and lovingly owned by the same family for 85 years. Full of character and opportunity, this unique property offers a front residence plus a separately built rear home with additional living space and two large yard areas. Additional unit in the back. The inviting front house features 2 bedrooms, 1 bathroom, and an additional office just off the entry that was previously used as a bedroom. The spacious living room is filled with natural light and features beautiful windows and a classic pocket door leading to the formal dining room. The dining room offers excellent natural light, new windows, and a built-in glass-front cabinet.The updated kitchen features new cabinetry, flooring, and a large pantry area. A convenient service porch includes a washer/dryer and a new soaking sink. Outside, the expansive rear yard has provided the perfect setting for gatherings and entertaining, with plenty of room to enjoy and personalize.Built by the family in 1947, the rear home offers additional versatility. The upstairs unit features 1 bedroom, 1 bathroom, a kitchen, and living room. The downstairs studio is not permitted and includes a full bathroom. An additional yard area is located behind the rear house.The property is zoned R3 and features numerous recent improvements, including some electrical and plumbing upgrades, new flooring in both homes, nine new windows and new doors in the front house, a new bathroom vanity, and fresh interior paint throughout both homes.With its historic charm, multiple living spaces, generous outdoor areas, three fruit trees, and R3 zoning, this property offers a variety of possibilities for homeowners, extended families, or investors. A special property with a long family history--ready for its next chapter.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.7 |
| Baths | 4.0 | 3.0 |
| Square foot | 1,836 | 2,148.648 |
| Lot Size | 8,261 | 5,855.757 |
| Price | $799.0K | $831.8K |
| Price per sq ft | $435 | $387 |
| Built year | 1947 | 1928 |
| HOA | $0 | $0 |
| Days on market | 22 | 87 |
Oct 21, 2026
$799,000
$899,000
-11% Price Drop
Initial Listing
Oct 2, 2026
$899,000
Initial Listing